by PSA CPA | Jan 1, 2025 |
If you and your significant other live together but aren’t married, you might share many expenses—and in some cases, one of you may be financially supporting the other. This might leave you wondering: can you claim your boyfriend or girlfriend as a dependent on your...
by PSA CPA | Jan 1, 2025 |
The State of Maryland offers the Homeowners’ Property Tax Credit Program, designed to provide relief to homeowners whose property taxes exceed a fixed percentage of their gross income. This program ensures that property taxes remain manageable for Maryland...
by PSA CPA | Dec 1, 2024 |
Imagine you’re a business owner looking to purchase a dependable, heavy-duty vehicle for your company—perhaps a large truck or SUV. At the same time, you’re concerned about managing your business taxes effectively. Here’s the good news: the IRS Section 179 deduction...
by PSA CPA | Dec 1, 2024 |
Filing taxes is a fundamental responsibility for small business owners, one that demands thoughtful preparation to minimize liabilities and stay compliant. While owners focus on optimizing their tax savings through deductions, credits, and strategic financial...
by PSA CPA | Nov 1, 2024 |
Investing in assets like cryptocurrency, real estate, or stocks can be a strategic way to grow wealth, but it also carries risks. If your investments have taken a hit this tax year, there’s a silver lining: tax loss harvesting. This tax-saving strategy allows you to...
by PSA CPA | Sep 1, 2024 |
When planning home improvements, it’s essential to understand which projects may offer potential tax advantages. While most home improvement costs are considered personal and aren’t typically tax-deductible, there are notable exceptions. This guide will answer...
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